New York-listed Scorpio Tankers Inc. authorized a new securities buyback program to purchase up to an aggregate of USD 250 million of the company’s common stock and bonds. The program includes convertible senior notes due 2019, unsecured senior notes due 2020 and unsecured senior notes due 2017, whi
UK-based maritime classification society Lloyd’s Register (LR) signed a contract with COSCO Zhoushan Shipyard in China for the classification of seven new 3,600 TEU container ships ordered for world’s largest container carrier Maersk Line. The vessels will be built to Danish Flag and have a length o
The first in a series of 27,500 cbm ‘Dragon’ class vessels ordered by Evergas, owner and operator of seaborne petrochemical and liquid gas transport vessels, is being delivered from the Sinopacific Offshore & Engineering (SOE) shipyard in China today. The ‘Dragon’ class ships are to be chartered by
VT Halter Marine, Inc., a subsidiary of VT Systems, Inc., has began construction on Taíno, Crowley Maritime Corp.’s second of two liquefied natural gas (LNG)-powered, combination container – Roll-On/Roll-Off (ConRo) ships. VT Halter Marine and Crowley entered into a contract for the pair of ships in
Monaco-headquartered tall ship sailing cruise line Star Clippers has started building its fourth square rigger, the company’s biggest and most ambitious project to date. The five-masted barque will be built by Croatia’s Brodosplit Shipyard, and is expected to be completed in the second half of 2017.
Golden Ocean Group Limited, a dry bulk shipping company created through a merger of former Knightsbridge Shipping Limited and Golden Ocean, reported a net loss of USD 15.3 million and a loss per share of USD 0.18 for the first quarter of 2015. The company explained that the earnings in the first qua
The keel laying of what will become the world’s biggest nuclear-powered icebreaker took place at the Baltic Shipyard on 26 May 2015. The ship has been given the Icebreaker 9 notation by the Russian Maritime Register of Shipping (RS) and forms part of a series of three ships to be built for Atomflot.
MISC Bhd, a shipping arm of Petronas, has set aside USD 1 billion for capex (capital expenditure) in 2015, which will mostly go towards the financing of five liquefied natural gas (LNG) carrier newbuilding resales acquired earlier this year, Malaysian daily Bernama reports. Following the company’s a
There has been a firm level of ship demolition activity in the first four months of 2015 and the two largest owner regions, Asia/Pacific and Europe account for 88% of the tonnage sold for recycling, according to the latest review of shipbreaking trend by Clarkson Research. Whilst the Indian Sub-Cont
Wärtsilä has received an order for its Ballast Water Management Systems (BWMS) from an undisclosed European shipping company for three container ships being built at the Jinhai Shipyard in China. Wärtsilä said it would deliver the BWMS equipment to the first vessel at the end of 2015, and for the ot
Some 37 very large gas carriers (VLGCs) of a total capacity of 3.1 million cum are to be delivered this year, resulting in a 23% fleet growth in terms of capacity, shipping brokerage Banchero Costa Research said in a report. 23 vessels of all sizes were delivered in the first four months of 2015, in
South Korea’s Hyundai Heavy Industries (HHI) became the first shipyard in the world to build and deliver 2,000 ships. Since its establishment in the early 1970s, HHI has left numerous footprints in the global shipbuilding industry, including the world’s first 1,000 ship delivery record in 2002 and t
Taizhou Intermediate People’s Court has rejected the proposed restructuring bid submitted by the Singapore-based shipbuilder JES International Holdings Limited (JES) for the company’s subsidiaries in China. JES had submitted the application for the restructuring of Jiangsu Eastern Heavy Industries s
Norwegian owner and operator of very large gas carriers Avance Gas informed that both of its newbuilds, VLGCs Breeze and Monsoon, have completed their warranty repairs related to defective stern tube bearings, under supervision by Lloyd’s Technical Investigation Department. Breeze left drydock at Ju
